Sungard Rolls out ASP Charlotte Version

SunGard now provides application service provider (ASP) delivery of its Charlotte trust accounting system for portfolio management, securities processing, performance reporting, and regulatory compliance, the company said.

A real-time trust accounting and investment management solution, the system helps trust and wealth management organizations attract, service, and grow client relationships, according to a SunGard news release.

The new offering helps eliminate the need for customers to purchase, maintain and upgrade server hardware and database software, as well as reduce the IT resources required for customers to manage the trust accounting system, SunGard said.

Customers get automatic upgrades of the system, database, and other related system software, as well as data and system backup and recovery. The system can also complement customers’ network needs for staff to access it remotely, from their homes or customers’ locations.

“The cost of installing and maintaining trust accounting systems in-house can be out of reach for financial institutions that need to be able to reduce costs in today’s challenging economic environment,” said Kevin Rafferty, president of SunGard’s wealth management business, in the news release.